The European Bank for Reconstruction and Development (EBRD) has announced plans to help finance Poland’s green energy transition with €63 million (£56m) spread across five loans.
The funds will support power producer Qair’s planned portfolio of almost 200MW of renewable energy, including the construction of new wind farms and solar photovoltaic projects as well as the operation of other plants.
Poland currently generates 80% of its energy from coal.
However, the country has committed to the EU climate and energy targets for 2030, including a reduction of 40% in greenhouse gas (GHG) emissions.
Harry Boyd-Carpenter, EBRD Director, Head of Energy EMEA, said: “By providing long-term finance under the current circumstances, the EBRD is making a significant contribution to Poland’s energy transition and demonstrating its commitments to its partners and strategic goals.”
Jean-Marc Bouchet, Qair founder and Chairman, commented: “These financings from the EBRD and BNP Paribas of operating and new assets in Poland are a clear sign that Qair’s lifelong commitment to promoting green electricity is more relevant than ever and that the strategy that Qair has been pursuing in Poland for over five years is coming to fruition.”